Female entrepreneurs are performing better than the overall small business community, according to a new report.
The Small Business Research Trust quarterly survey shows that 44 per cent of female-led firms recorded sales growth in the third quarter of 2004, seven per cent more than overall businesses taking part.
Furthermore, 45.7 per cent of female entrepreneurs expect to record further growth in the final quarter of last year.
Employment is also buoyant within the sector, with 27.7 per cent of female-led firms reporting growth, ten per cent more than respondents overall.
The report also shows that firms ran by women are predominantly micro businesses, with 40 per cent employing between one and four employees, followed by firms with five to nine employees, 26 per cent.
The figures drop dramatically in terms of larger firms. Only 16 per cent of female led businesses employed 10 to 19 workers and 14 per cent employed 20 to 49.
Nick Goulding, chief executive at the Forum of Private Business (FPB), said; “It is vital we see more women going into business and driving the UK economy.
“If women started up businesses at the same rate as men, 150,000 extra new firms would be created every year. A glittering prize is within grasp for the UK if we can harness the entrepreneurial potential of women.”
The most popular sectors among female entrepreneurs proved to be wholesale and retail, 34 per cent, real estate, 21 per cent, and education/health, 15 per cent.
The government has set itself the target of helping to increase the number of female entrepreneurs to 20 per cent of the UK business stock by 2006.
Goulding said: “That target needs the support of the political, business and media worlds if it is to be achieved from its current level of 15 per cent of the UK business stock.”
